Usd/cny Review



Quotes from Standard Chartered:

-China's official manufacturing PMI for July, at 51.7, was the highest since H1-2012. This has translated into a pick-up in sentiment and a sharp rise in the Chinese yuan (CNY).

-Despite broader US dollar (USD) strength causing the fixing to move higher, the move in onshore USD-CNY has caused spot and the fixing to converge. USD-CNY is now trading at the strong end of the band for the first time since March 2014.

News are provided by InstaForex.